Michael Balboa, portfolio manager of Millennium Global Emerging Credit Master Fund, Ltd., not only hid losses, but also inflated the net asset value of the Fund by $163 million through manipulating pricings of two obscure warrants. GlobeOp was a valuation agent and independently priced the fund’s NAV and Deloitte conducted its annual audit and issued an unqualified opinion when the misconduct was underway. How could Balboa successfully deceived the reputable service providers and avoided immediate collapse of the Fund?[Continue Reading...]

From as early as 1995 through September 2008, Thomas Petters (“Petters”), a prominent businessman in Minnesota, perpetrated a massive Ponzi scheme through the sale of promissory notes to investors. While Petters’ $3.65 billion fraud dwarfs Bernie Madoff’s $65 billion, it is still the third largest hedge fund fraud case as of today (Jan 2012).[Continue Reading...]

Important Disclaimer

Website Disclaimer

The information contained in this website is for general information purposes only. The information is provided by Star Magnolia Capital (Hong Kong) Limited and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.

[Through this website you are able to link to other websites which are not under the control of Star Magnolia Capital (Hong Kong) Limited. We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.]

Every effort is made to keep the website up and running smoothly. However, Star Magnolia Capital (Hong Kong) Limited takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.